Cineworld Group Plc's full-year pretax earnings more than doubled, boosted by its purchase of the theatre business of Poland's Cinema City International last year. The company said it expected 2015 to be a strong year with big releases, including the Bond film "Spectre", the fourth and final Hunger Games movie "The Hunger Games: Mockingjay Part 2" and the latest Star Wars film "Star Wars: Episode VII", lined up for this year. Shares in the company, Britain's largest cinema operator, rose as much as 8 percent in early trading on the London Stock
Exchange yesterday. Cineworld's pretax profit jumped to 67.3 million pounds for the 53-weeks ended Jan. 1 from 30.9 million pounds a year earlier. Revenue rose 52.5 percent to 619.4 million pounds ($927.12 million). The company, which operates 1,875 screens in nine countries, said box office revenue rose 43 percent to 399.2 million pounds, accounting for 64 percent of total revenue.
About the author
Research Associate at Center for Islam and Global Affairs (CIGA) at Istanbul Sabahattin Zaim University